At a time when most Top 10 tokens are trading sideways and the broader market, in general, is gloomy two altcoins have skyrocketed and how. AXS and DAG have led ahead of the pack by having a massive 300% rally in a month.
Axie Infinity is blockchain-based trading and battling game that allows players to collect, breed, raise battle, and trade token-based creatures known as “axies,” which are digitized as their own NFTs.
According to CoinGecko, AXS has risen from $4.10 on June 10th to an all-time high of $19.63 on July 10th. The increase reflects a 378% surge in just 30 days.
The market cap now stands at over $1 Billion. The correlation between its revenue and fully diluted market cap indicates that the market cap is increasing with the revenue. This is a sign that regardless of market situations, investors remain focused on the fundamentals.
Axie Infinity Shards is ruling the NFT space right now, as the 30-day trading volume has surpassed $260 million, nearly equaling the aggregate volume of NBA Top Shots, CryptoPunks, and OpenSea.
Users have been printing massive gains on the platform. Here’s an exhibit
The Constellation protocol is a scalable distributed network that allows developers to create blockchains, mint cryptocurrencies, and create decentralized apps.
According to CoinGecko, DAG has risen 352 percent in the previous 30 days, from $0.042 on June 10th to $0.19 on July 10th, a new all-time high.
The Constellation protocol has strong fundamentals and use cases which can be seen by its recent developments
- Launch of the automated market maker Lattice Exchange, which is built on Constellation’s Hypergraph network.
- Partnership with the US Air Force to facilitate the various fleets — drones, planes, satellites — that the branch is responsible for.
- Sector-related partnerships with Chainlink (LINK) and KuCoin exchange.
- Partnership with Liechtenstein Cryptoassets Exchange. LCX will support the listing of DAG and other tokens created on the Constellation protocol.
- Partnership with Amazon Web Services.
Both the tokens are still surging in value. Whether the tokens will continue to an uptrend or undergo a correction soon is to be watched out for.